Bitcoin Education

Hardware Signing Device Guide

Hardware signing devices are essential for secure Bitcoin storage in collaborative security setups. This guide explains what they are, why Trezor is recommended, and how to set them up safely for use with your 2/3 multisig vault.

Secure transaction signing Trezor recommended Multisig compatible

What Is a Hardware Signing Device?

A hardware signing device (often called a hardware wallet) is a physical device that stores your private keys offline and signs Bitcoin transactions. In a 2/3 multisig setup, it serves as one of your three keys—providing an extra layer of security beyond software-based keys.

Unlike software wallets that store keys on your computer or phone, hardware signing devices keep your keys isolated from internet-connected devices, making them much harder to compromise.

See our Buy Bitcoin Resources page for recommended Trezor models with images and direct purchase links.

Why "Signing Device" Not "Wallet"?

In collaborative security, we use the term "hardware signing device" because it more accurately describes the device’s role. The device doesn’t store your Bitcoin—it signs transactions. Your Bitcoin is secured by the multisig vault structure, with the hardware device providing one of the required signatures.

Why We Recommend Trezor

Trezor is our recommended hardware signing device for several key reasons:

Ease of Use

Trezor devices are straightforward to set up and use, making them ideal for clients new to hardware signing devices. The interface is intuitive and well-documented.

Proven Security

Trezor has a long track record of security and reliability. The devices use open-source firmware, allowing security researchers to audit the code.

Multisig Support

Trezor devices work seamlessly with Theya and Unchained vault providers, making them perfect for collaborative security setups.

Cost-Effective

Trezor offers excellent value for money, with models available at different price points to suit various needs and budgets.

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Already have a hardware device? If you already own a Ledger, Coldcard, or Foundation device, it can typically be used with your vault setup. We’ll help you configure it during onboarding. However, Trezor remains our recommended choice for new purchases.

Alternative Options

While Trezor is recommended, there are alternatives depending on your needs:

Software Key with Theya (iOS Only)

If you use an iPhone, you can use Theya’s software key option instead of a hardware device. This provides convenience while still maintaining the security benefits of 2/3 multisig. The software key runs on your iPhone and integrates directly with the Theya app.

When to choose this: If you prefer not to manage a physical device and you’re comfortable with iOS-based security. The multisig structure still provides strong protection even with a software key.

Other Hardware Devices

Ledger, Coldcard, and Foundation devices can also work with collaborative security setups. If you already own one of these devices, we can help you configure it during onboarding.

Note: For new purchases, we recommend Trezor due to its ease of use, proven security, and excellent multisig support.

How to Choose a Trezor Model

We recommend two Trezor models for collaborative security setups:

Trezor Safe 3

Our default hardware signer—simple, secure, and straightforward to recover in collaborative vaults. Perfect for most clients.

View on Buy Page →
Official Setup Guide →

Trezor Safe 5

Latest-gen flagship with enhanced secure element—ideal for signers handling significant value or wanting premium features.

View on Buy Page →
Official Setup Guide →

Both models work seamlessly with Theya and Unchained vault providers. For most clients, Trezor Safe 3 provides the best balance of security, features, and value.

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Where to buy: See our Buy Bitcoin Resources page for direct links to purchase Trezor Safe 3 and Safe 5. You can also purchase directly from Trezor or reputable resellers. Avoid buying from third-party marketplaces where devices could be tampered with.

Setup and Security Best Practices

Proper setup is critical for security. Follow these steps:

Initial Setup Steps

  1. Purchase from official source — Buy directly from Trezor or authorized resellers
  2. Verify packaging — Check that the device packaging is sealed and untampered
  3. Follow official setup guide — Use Trezor’s step-by-step guides:
  4. Install Bitcoin-only firmware — During setup, choose Bitcoin-only firmware instead of the multi-coin version. This reduces the attack surface by removing support for other cryptocurrencies, making your device more secure and focused on Bitcoin.
  5. Initialize the device — Set up a new wallet (never use a pre-configured device)
  6. Write down your recovery seed — This is your backup if the device is lost or damaged
  7. Test the recovery process — Verify you can restore from your seed phrase
  8. Set a PIN — Choose a strong PIN to protect the device

The official Trezor guides cover firmware installation, wallet creation, backup & recovery in detail. We recommend following them step-by-step, and your adviser can help during onboarding if you have questions.

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Never share your recovery seed phrase with anyone. Not with us, not with support, not with anyone. The seed phrase is your backup—if someone else has it, they can access your keys. Store it securely offline.

Security Best Practices

  • Use Bitcoin-only firmware — Install and maintain Bitcoin-only firmware on your Trezor device. This reduces the attack surface and keeps your device focused on Bitcoin security.
  • Store your recovery seed securely — Use a metal backup or store in a fireproof safe. Never store it digitally or in the cloud.
  • Keep your device firmware updated — Regular updates include security improvements. When updating, ensure you maintain Bitcoin-only firmware.
  • Use a strong PIN — Choose a PIN that’s hard to guess but easy for you to remember
  • Keep the device physically secure — Store it in a safe place when not in use
  • Verify addresses on the device — Always confirm receiving addresses on the device screen, not just on your computer
  • Never enter your seed phrase online — Legitimate services will never ask for your seed phrase

Integration with Collaborative Security

During onboarding, we’ll help you integrate your hardware signing device with your Theya or Unchained vault:

The Integration Process

  1. Device connection — Connect your Trezor to your computer during the onboarding call
  2. Vault setup — Your adviser guides you through connecting the device to your vault
  3. Key generation — The device generates one of your three multisig keys
  4. Verification — We verify the setup and test a small transaction
  5. Documentation — The device configuration is documented in your Estate Plan Protocol

The entire process takes about 15 minutes during your onboarding call. Your adviser is there to guide you every step of the way.

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You don’t need to buy hardware through us. Purchase directly from Trezor or reputable resellers. We’ll help you configure whatever device you choose during onboarding.

Backup and Recovery

If your hardware signing device is lost, stolen, or damaged, you can recover access using your recovery seed phrase:

Recovery Process

  1. Purchase a replacement device — Any Trezor device (or compatible hardware) will work
  2. Restore from seed phrase — Use the recovery seed phrase you wrote down during initial setup
  3. Reconnect to vault — Your adviser helps you reconnect the restored device to your vault
  4. Verify access — Test that you can sign transactions with the restored device

Important: Because you’re using 2/3 multisig, losing your hardware device doesn’t stop operations. You still have your other keys, and we can help you restore access when you’re ready.

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Store your recovery seed phrase securely. Consider using a metal backup for fire and water protection. Store it in a location separate from your device. Never store it digitally or share it with anyone.

Common Mistakes to Avoid

Avoid these common pitfalls when using hardware signing devices:

❌ Buying from Untrusted Sources

Only buy from Trezor directly or authorized resellers. Third-party marketplaces may sell tampered devices.

❌ Using a Pre-Configured Device

Always initialize a new device yourself. Never use a device that comes with a seed phrase already set up.

❌ Storing Seed Phrase Digitally

Never take photos, store in cloud storage, or type your seed phrase into any device. Write it down on paper or metal.

❌ Sharing Your Seed Phrase

No legitimate service will ever ask for your seed phrase. Never share it with anyone, including support staff.

❌ Not Testing Recovery

Test that you can restore from your seed phrase before storing significant funds. Practice makes perfect.

❌ Ignoring Firmware Updates

Keep your device firmware updated. Updates often include important security improvements.

How The Bitcoin Adviser Helps

We provide comprehensive support for hardware signing device setup and management:

  • Guidance on device selection — We help you choose the right device for your needs
  • Setup assistance — Your adviser guides you through device setup during onboarding
  • Vault integration — We help you connect your device to your Theya or Unchained vault
  • Recovery support — If your device is lost or damaged, we help you restore access
  • Ongoing assistance — Questions about your device? Your adviser is always available
  • Documentation — Device details are included in your Estate Plan Protocol for your heirs
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You’re never alone. From choosing a device to setting it up to recovering from loss, your dedicated Bitcoin Adviser is here to help every step of the way.

Get Help with Hardware Setup

Clients can book meetings with their advisers for hardware device setup, configuration, or troubleshooting. Whether you’re choosing your first device, setting up a replacement, or have questions about your current setup, your dedicated Bitcoin Adviser is here to help.

Already a client? Reach out to your adviser directly to schedule a session.
Not yet a client? Book a consultation to learn how we can help.

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Educational only — no financial, tax, or legal advice. Seek appropriate licensed professionals where required. Device recommendations are based on our experience and may not suit all users.